PATRICK DEVAL L - 21 Sep 2021 Form 3 Insider Report for Toast, Inc. (TOST)

Role
Director
Signature
/s/ Brian R. Elworthy, as Attorney-in-Fact
Issuer symbol
TOST
Transactions as of
21 Sep 2021
Net transactions value
$0
Form type
3
Filing time
21 Sep 2021, 20:25:39 UTC
Previous filing
17 Sep 2021
Next filing
27 Sep 2021
SEC
View on sec.gov

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
holding TOST Restricted Stock Units 21 Sep 2021 Common Stock 22,930 Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Immediately prior to the completion of the Issuer's initial public offering, each share of Common Stock shall be reclassified into one share of Class B Common Stock in an exempt transaction pursuant to Rule 16b-7. Each outstanding share of Class B Common Stock will be convertible into one share of Class A Common Stock at any time at the option of the holder or automatically upon the occurrence of other events set forth in the Issuer's certificate of incorporation.
F2 The Restricted Stock Units ("RSUs") shall vest in three equal annual installments over three years following February 22, 2021, contingent upon completion of the Issuer's public offering.
F3 RSUs convert into Class B Common Stock on a one-for-one basis upon vesting and settlement.

Remarks:

Exhibit 24 - Power of Attorney